Why Borrow Against Your Life Insurance Policy Instead of Withdrawing?
Join Shawn King, founder of Legacy Life and Retirement, as he addresses a common question about infinite banking: why would someone borrow their own money? Shawn explains that when taking a loan from your insurance policy, you're actually borrowing against the cash value and death benefit, not your own premiums. He breaks down the benefits of borrowing versus withdrawing, such as maintaining the compounding growth of your policy, flexible repayment terms, and tax advantages. Learn how this powerful financial strategy can help you build wealth efficiently by leveraging your life insurance policy.
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00:00 Introduction to Infinite Banking
00:28 Understanding Policy Loans
02:25 Cash Value Explained
03:24 Borrowing vs. Withdrawing
04:37 How to Borrow Against Your Policy
06:57 Benefits of Leveraging Cash Value
07:47 Final Thoughts and Next Steps